Friday, August 31, 2007

If you are in trouble on your mortgage payments due to having bought a home with an ARM mortgage and now your new payments are coming due, you need to read this article written by fellow Active Rainer , Aaron Gordon Mortgage Banker on the new guidelines from HUD. It may save your home. Here is the article This article explains the way it will work, who will be qualified and provides links to Hud. Good Luck.

Saturday, August 25, 2007

For the many, many home owners out there with their homes languishing on the market and wondering why their home is not selling. Here are some tips. Top of the line tip: Your house is overpriced! Whether you are pricing it yourself or you have a Realtor, look at the actual comparables of houses that sold in the last three months that are close to your neighborhood and similar in style, size and condition to your home. Next, check out what is also for sale in your neighborhood. Put yourself in the buyers seat and look at all the homes for sale. Why would they choose your house?

After you are satisfied with your price, you now need to look at the "appeal" and condition of your home. Does it show well? When someone drives by, do they think "That's a nice house"? Or do they not notice it at all? Or worse, do they think "what a rat trap"? All these thoughts are what makes a buyer automatically put a "mental price" on your home. You want them to hear the price and think "What a great deal"! I need to move on this one.

And last, but not least, a sign in front of the house, while it will catch some buyers, is not the only thing you should be doing to advertise. If you have a Realtor, then he/she will automatically be doing everything possible to get your home advertised, but if you are doing it on your own, you need to advertise everywhere you can, both on the internet and in local classifieds.

While this is not a "standard" buyers market. (The prices have not gone down enough) It is definitely not a sellers market and you need to do whatever you can to promote your home. Happy Selling. Feel free to email me with your questions/concerns.

Saturday, August 18, 2007

What happened to Real Estate in Rhode Island? We all know about the Mortgage loans that dissappeared. The foreclosure rate has escalated and people are moving out of their homes. Where are they going? I happen to know that a lot of peope are moving to apartments. The reason I know this is because I sell REO homes. These are homes that have already been foreclosed and are now owned by the Banks that held the mortgage. Some of these homes are good buys for the first time homebuyer who wants to build a little sweat equity. Yes, some REO's are a waste of time and only good to a builder due to the lack of plumbing, heating and windows. However, if you are patient and keep looking, you can find some real gems. Also, when a builder buys one of these houses, he/she goes through the entire house and beleive me, these homes are like brand new! I have one on the market now that is a shadow of its' former self. So while a lot is going on in this market, and a lot of rumors, people are still moving around for various reasons. The Real Estate Market will always be around. We all need a place to live.

Friday, August 10, 2007

This is a Bank Owned home priced under normal market value, waiting for your personal touches. It needs a minimum amount of work. Painting, etc.... Pull up the rugs and expose hardwoods. Make this your new home with your creativeness and build some sweat equity. Offered at $190,500. Bring prequalification letter and make an offer.

Karen's Ocean State Create Artwork

About Me

A Rhode Island Realtor serving most of RI, but specializing in Warwick, Cranston, East Greenwich North Kingstown, South County Coastal homes and beach homes. Luxury homes in all of RI. Also handle REO properties. Broker Owner of Stonehurst Realty in Warwick RI